Chrome ore and ferro-chrome markets were subdued in China in the week ended Friday November 23 ahead of December ferro-chrome tender announcements. UG2 prices hold in ChinaCharge chrome import prices hold in China, domestic alloy prices edge lowerAlloy prices hold in Japan, weaken in South KoreaAlloy prices continue lower in Europe Chrome ore and ferro-chrome prices were largely stable in China o...Read More
The South East Asia Iron & Steel Institute (Seaisi) has singled out Myanmar as a burgeoning steel market to watch in the Southeast Asian region.The country's annual steel consumption is expected to exceed 3 million tonnes in 2020 on an average growth rate of 8% before reaching 5 million tonnes in 2025, Seaisi secretary general Tan Ah Yong said on Monday November 26.He was speaking to delegates at...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 27.Please click...Read More
Base metals prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with tin's three-month price hitting its lowest point since August 2016 amid strength in the dollar index. Reaching an intraday low of $18,215 per tonne, tin futures have fallen more than 7.3% from the November 19 high of $19,700 per tonne. The metal's LME price remains broadly impervious to...Read More
A lack of sufficient alumina supply has caused European aluminium producer Trimet to cut alumina input at its plants in Germany and France by 10%, the company told Fastmarkets. "Trimet expects to resume to full capacity in early 2019," Thomas Reuther, member of the board at Trimet Aluminium SE, said in a statement, referring to primary production that uses alumina as a raw material. The company co...Read More
Rebar suppliers to Russia's Central Federal District, the major steel-consuming region in the country, have cut their prices because of a downtrend in the secondary market.Fastmarkets' weekly assessment of the domestic price for Russian 12mm A500C rebar, including 18% VAT, decreased to 36,500 roubles ($546) per tonne cpt Moscow on Monday November 26, compared with 38,000 roubles per tonne last wee...Read More
The latest news and price moves to start the Asian day on Wednesday November 28.Base metal prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with the three-month tin contract hitting its lowest point since August 2016 due to strength in the dollar index. Read more in our live futures report.Here are how prices looked at the close of trading:BHP has foun...Read More
The latest metal markets news and price moves to start the North American day on Tuesday November 27.Falling 2.4% over the morning, the three-month zinc price found a low of $2,422 per tonne over the morning, its lowest point since September 19. While zinc volumes traded so far this morning hit 5,361 lots as of 10:16am London time. Tightness in the metal's forward curve, prompted by...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Tuesday November 27.Base metals traded on the Shanghai Futures Exchange gave a mixed performance during Asian morning trading on Tuesday, with the complex contending with a firmer dollar index and persistent bearishness stemming from lingering concerns over the United States-China trade spat....Read More
Investing.com - Gold prices dropped on Tuesday in Asia while the dollar also slid. Traders will take cues from Federal Reserve Chairman Jerome Powell’s speech on Wednesday to see which direction the precious metal will go.Gold futures for February delivery on the?EUR?Comex?EUR?division of the New York Mercantile?EUR?Exchange traded 0.05% lower at?EUR?$1,228.2?EUR?a troy ounce by?EUR?10:29 PM...Read More
The share of basic oxygen furnace (BOF)-based steel production in Asia may increase from 2019 onward, even as more integrated mills are commissioned in the region. There are at least six new BOF-based steelmaking projects in China and Southeast Asia which are either in development stages or will fire their blast furnaces between 2018 and 2023, according to World Steel Association head of technolog...Read More
The golden era of the Vietnamese steel markets is coming to an end.After a decade of rapid growth, market participants are expecting steel demand in Vietnam to continue to taper off next year after peaking in 2017."We do not expect to see the kind of phenomenal growth for downstream steel products in both the domestic and export markets from 2019," a director in charge of flat steel exports at a V...Read More
Base metals prices on the London Metal Exchange were lower at the close of trading on Tuesday November 27, with tin's three-month price hitting its lowest point since August 2016 amid strength in the dollar index. Reaching an intraday low of $18,215 per tonne, tin futures have fallen more than 7.3% from the November 19 high of $19,700 per tonne. The metal's LME price remains broadly impervious to...Read More
Comex copper prices remained under-pressure Tuesday morning in the US amid reduced trading activity, a stronger dollar and anticipation over Chinese and US leaders' meeting in Argentina later this week.The copper price for December settlement on the Comex division of the New York Mercantile Exchange in the United States declined 2.40 cents to $2.7315 per lb. Ahead of the G20 meeting in Argent...Read More
Seaborne coking coal prices softened further on Tuesday November 27, with participants staying on the sidelines amid a weakening steel market in China."The billet price in China [tumbled] during the day. It has fallen by 800-900 yuan ($115-130) per tonne since the first [working day] of November. The situation doesn't bode well for coking coal prices," a Chinese trading source said. Fastmarkets' d...Read More
* Saudi Arabia expected to push for OPEC supply cut* Sino-U.S. trade war to dominate G20 gathering* U.S. crude oil stocks rose 3.5 mln bbls last week -API (Adds API data)By Stephanie KellyNEW YORK, Nov 27 (Reuters) - Oil prices dipped on Tuesday, weighed down by uncertainty over the U.S.-China trade war and signs of increased global crude production, but losses were limited by expectations that cr...Read More
* NSE index up 0.54 pct, BSE 0.45 pct higher* F&O expiry on ThursdayNov 27 (Reuters) - Indian shares ended higher for a second consecutive session on Tuesday, mirroring the previous session's move of a surge in the last two hours, ahead of the expiry of futures and options contracts later this week.The benchmark BSE index .BSESN closed up 0.45 percent at 35,513.14.The broader NSE index .NSEI e...Read More
(New throughout, updates prices, market activity and comments)* Dollar rises to nearly two-week high* Silver, platinum fall to lowest in nearly two weeks* GRAPHIC-2018 asset returns: http://tmsnrt.rs/2jvdmXlBy Swati VermaNov 27 (Reuters) - Gold fell on Tuesday to its lowest in more than a week, as the dollar rallied after comments from U.S. Federal Reserve Vice Chair Richard Clarida bolstered expe...Read More
* Dow, S&P end up with Nasdaq flat* United Tech decline weighs on Dow* Materials weak; defensives outperformNov 27 - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Chuck Mikolajczak. Reach him on Messenger to share your thoughts on market moves: charles.mikolajczak.thomsonreuters.com@reuters.netDOW, S&P CLO...Read More
* Dow, S&P up with Nasdaq flat as Apple pares losses* United Tech decline weighs on Dow* Materials weak; defensives outperformNov 27 - Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Chuck Mikolajczak. Reach him on Messenger to share your thoughts on market moves: charles.mikolajczak.thomsonreuters.com@reuters.n...Read More